The investment firm has hired Eastdil Realty to evaluate a possible sale, recapitalization or refinancing for its Orchid at Mauna Lani hotel in Hawaii. It acquired the upscale 539-unit property in 1996.
May 3, 2002WASHINGTON – MeriStar Hotels & Resorts (NYSE:MMH) and Interstate Hotels Corp. (Nasdaq:IHCO) have agreed to merge in a deal valued at $68 million.The combined company, to be named Interstate Hotels Corp., will have a market capitalization of $260 ...
deal is for 87% stake; consists of $75Mln cash and 5.2Mln shaes of Hilton stock; Hilton did hold 13%
May 1, 2002 NEW YORK – Philips Hotel Group is looking for a preferred equity partner for its Shore Club Hotel and Spa, an upscale and trendy hotel in Miami's South Beach area.Philips, which has retained Carlton Group to help ...
May 1, 2002 WAIKOLOA, Hawaii – Hilton Hotels Corp. (NYSE:HLT) has purchased the Hilton Waikoloa Village, a 1,241-key resort property, in which it had already owned a 13 percent interest, for about $155 million.Hilton, which already managed the resort complex, ...
April 29, 2002 NEW YORK – Moody's Investors Services has downgraded three classes of Ten Affiliates of Strategic Hotel Capital LLC, 2001-SHC, because the value it places on the collateral pool has dropped by 10 percent.The deal is secured by ...
Bank One, West LB and San Diego National Bank provided $104 million of construction financing for a proposed 512-unit upscale hotel. The property will be next to the San Diego Padres' new baseball stadium.
Research from Wachovia Securities shows delinquencies among hotel loans in CMBS deals to be bottoming out. That's a sure sign that the sector has seen its worst days.
April 24, 2002NEW YORK – Standard & Poor's has downgraded three classes of Merrill Lynch Mortgage Investors Inc., 1997-C1, because of expected losses from 12 loans that are with the deal's special servicer.The rating agency, meanwhile, affirmed the seven other ...
April 23, 2002 NEW YORK – Carlton Group has been retained to help the owners of the On the Ave Hotel in midtown Manhattan refinance the upscale hotel.The property, a 16-story hotel at Broadway and 77th Street with 251 units, ...
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